Fr. 198 (W-2650). Act of March 3, 1863. $50 5% One Year Note. Face Proof. Hessler X137C. PCGS Currency About New 53.There are only three reported Fr. 198 making the known $50 Face Proofs very collectible. Engraved and printed on India paper by the American Bank Note Company, New-York. A large green guilloche in the center contrasts with the sharp black printing. At the left, a large female allegorical "Loyalty," engraved by Charles Burt. Lower right portrait of Alexander Hamilton engraved by Owen Hanks. Hessler Proofs ITE9 (p67). Plate A. This type was printed from four-subject A-D position plates. There are several known to us from a few pedigree sources. There were three examples in the 2000 Schermerhorn-Ford Federal proofs sold by Stacks. PCGS notes there are some "repairs," but this is very vibrant with sharp green color. Basically uncollectible in issued form. A lovely interest bearing proof type. In 2000 this realized $3,737.50, but it was in the context of two other examples sold with it. Not often offered as most collectors choose not to part with theirs.From the John E. Herzog Collection; Stacks 2000 Americana Sale, January 12-13, 2000, lot 1026; John J. Ford, Jr.; possibly Robert Schermerhorn.
